Home Sales Reach Record-Breaking High for April

NASHVILLE, Tenn. (May 7, 2019) – There were 3,479 home closings reported for the month of April according to figures provided by Greater Nashville REALTORS®. This figure is up 1.8 percent from the 3,419 closings reported for the same period last year.  

“April home sales did not disappoint,” said Greater Nashville REALTORS® President, Andrew Terrell.“ With record-breaking sales volume for April, we are exceedingly optimistic about the growth we see in the Middle Tennessee housing market.”  

A comparison of sales by category for April is:

   2018    2019
CLOSINGS     3,419     3,479 
Residential    2,785     2,855
Condominium    421    417
Multi-Family    27    21
Farms/Lands/Lots     186    186

There were 3,833 sales pending at the end of April, compared to 3,430 pending sales at this time last year. The average number of days on the market for a single-family home was 37 days.

The median price for a residential single-family home was $306,970 and for a condominium, it was$229,990. This compares with last year’s median residential and condominium prices of $295,000 and $222,750 respectively.

Inventory at the end of April was 11,627, up from 8,876 in April 2018.

The current inventory of properties by category, compared to last year, is:

   2018    2019
Inventory    8,876    11,627
Residential    5,947    8,253
Condominium    617    960
Multi-Family    70    78
Farms/Lands/Lots     2,242    2,336

“The continued growth in inventory offers exciting options for consumers across the Greater Nashville area. The increasing inventory and higher sales volume continue to speak to our vibrant and flourishing local economy,” added Terrell. 

Source: https://www.greaternashvillerealtors.org/news/home-sales-reach-record-breaking-high-april

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